I have read many articles and attended seminars stressing the importance of asset protection and the use of land trusts to hold title. I am convinced that this is a good strategy for my business goals and intents and I need to transfer ownership of my property from my name into a land trust.
How do I transfer title of my property that is currently owned and held in my name - for the purpose of asset protection?
do a quit claim deed to the trustee of your land trust.
thanks for the reply!!
do i need an attorney to set up the land trust or can I do it on my own? do you have templates of land trust agreements and quit claim deed?
Best to use an attorney for the first one.
Trusts need to be established in conformance with applicable state law. Best to have the attorney do the first one, then use that as boilerplate for the next one.
Dave T is right on (as always); some of the finer pts can be a bit tricky.